Stocks in the news: Religare, BOI, Petronet LNG, BPCL, MRF and DHFL

Religare Enterprises: The company board would consider raising funds in a meeting today. According to reports, the Burman Family of Dabur Group has shown intentions to increase its stake in the company. The family owes a little less than 10 per cent stake in the NBFC.

Petronet LNG, Max Financial: Petronet LNG, Max Financial Services, Suven Pharmaceuticals,

, Galaxy Surfactants, Engineers India, Ion Exchange, Hester Biosciences, Bajaj Hindusthan Sugars, Wonderla Holidays and Titagarh Wagons are among companies that will announce their March quarter results today.

The New India Assurance Company: The state run general insurer reported a 90.6 per cent jump in net profit at Rs 241 crore for the last quarter of the fiscal ended March 2021. The market leader in non-life insurance business in India, had reported a net profit of Rs 127 crore in the same quarter of 2019-20.

BPCL: Privatisation-bound oil marketer is setting up a 50,000 metric tonne per annum super absorbent polymer plant at the Kochi Refinery, the technology for which was developed in-house.

Union : The state owned lender reported a standalone profit after tax of Rs 1,330 crore in the quarter ended March 31, 2021, helped by improvement in asset quality. The bank amalgamated Andhra Bank and Corporation Bank with it with effect from April 1, 2020.

MRF: The tyre maker reported a 51 per cent decline in its consolidated net profit to Rs 332 crore for the fourth quarter of the fiscal ended on March 31, 2021. The company had posted a consolidated net profit from continuing operations at Rs 679 crore for the January-March quarter of 2019-20.

Infosys: The IT major Infosys announced a collaboration with Archrock, Inc., a leading provider of natural gas compression services in the U.S, to integrate digital technologies and mobile tools for its field service technicians.

Bank of India, PNB: The RBI on Monday imposed penalty aggregating to Rs 6 crore on Bank of India and

for contravention of norms, including one related to “Frauds – Classification and Reporting”. A penalty of Rs 4 crore has been imposed on Bank of India and Rs 2 crore on Punjab National Bank.

NBCC: Jaypee Infratech’s financial creditors are likely to meet on June 10 to discuss the resolution plans of state-owned NBCC and Suraksha group to acquire the debt-laden company.

Interglobe Aviation: Air travel demand is expected to gain “further momentum” by early July, the country’s largest airline IndiGo said and emphasised that managing cash position remains its primary focus.

Reliance Infrastructure: The Anil Ambani led entity has sought shareholders’ approval to raise up to Rs 550.56 crore through issuance of shares on a preferential basis. On Sunday, the company’s board had approved a proposal to this effect.

DHFL: Debt-ridden mortgage firm shares would be delisted from stock exchanges post acquisition by Piramal Capital and Housing Finance, which has emerged as the successful bidder for the company.

Central Bank of India: The state owned lender has announced a co-lending partnerships with two NBFC players, under which the NBFCs will originate and process retail home loans while

will take into its book 80 per cent of the housing loan under direct assignment transactions

Indiabulls Housing Finance and IIFL Finance: The NBFCs have entered the co-lending partnership with Central Bank of India. The NBFCs will service the loan account throughout the life cycle of the loan.

Hospital stocks: The government has capped the service charge levied by hospitals for Covid-19 vaccine to Rs 150 per jab. This is likely to affect Hospital stocks such as Max Heatlhcare, Appollo Hospitals, Fortis Hospitals, Narayana Hrudayalaya, who per charging up to Rs 300 per jab as service charge.